Altcoin Daily Predicts An ‘Explosive’ Year For ETH, SOL And MATIC

According to crypto analyst Aaron Arnold, who hosts Altcoin Daily show on YouTube, quality L1s and L2s such as Ethereum (ETH), Solana (SOL) and Polygon (MATIC) are going to be explosive this year.

Arnold shared with the 1.2 million Altcoin Daily subscribers that fast growing interest in non-fungible tokens (NFTs) and decentralized finance (DeFi) are the reasons to his bullish stance on a select digital assets.

“Talking about quality L1s and quality L2s. I’m talking about projects that have real activity going on on the protocol.

These cryptocurrency projects are going to be explosive this year. Why do I say that?

It is because the amount of activity we are seeing in the NFT space, the DeFi space, just continues to go parabolic.”

At the time of writing the leading smart contract platform Ethereum is trading at $3,019, down 3.2% in the past 24 hour window.

Rivaling smart contract platform Solana is trading at $130, with 4.9% loss on the daily.

Layer-2 scaling solution Polygon (MATIC), trades at $1.97, down 3.8% in 24 hours.

Arnold also talked positively about two smaller altcoins: Immutable X (IMX) and MetisDAO Token (METIS).

Immutable X (IMX) is a scaling solution for NFTs that targets instant, zero gas fee transactions. At the time of writing, IMX is trading at $3.40, with 4.8% loss on the daily.

MetisDAO Token (METIS) is another layer-2 scaling solution, which at the time of writing is trading at $258, down 7.6% on the daily.